S&P raises Cendant credit rating to 'BBB+' from 'BBB'

CarolynPritchard

SAN FRANCISCO (MarketWatch) -- Standard & Poor's Ratings Services on Friday raised its ratings on travel and real estate services provider Cendant Corp.
CD, +0.00%
to BBB+ from BBB and affirmed its A-2 commercial paper rating. The outlook is stable. S&P said the upgrade reflects the "meaningful strengthening" in Cendant's credit measures over the past several quarters as a result of continued solid operating results and lower debt balances. The agency also said it expects Cendant to maintain credit measures at these improved levels as positive indudstry fundamentals are likely to continue over the intermediate term .

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